Lukoil

Reference Material on Lukoil

Lukoil, Russia's largest oil company, and the second-largest non-state company worldwide by volume of reserves, has extensive overseas assets and development projects in Iran, Iraq and Saudi Arabia. The company is privately held. In a deft deal in 2004, Lukoil took the United States major ConocoPhillips as a partner, allowing Conoco to buy up to 20 percent of Lukoil and jointly develop an Artic oil deposit. In exchange Conoco agreed to advocate for Lukoil's pre-war claim to a huge field in Iraq. The company's chief executive, Vagit Y. Alekperov, has a low profile in Russian politics, something analysts appreciate. Lukoil produced about 1.8 million barrels of oil per day in 2004 and had a market capitalization of $71 billion. ANDREW E. KRAMER (NYT)

July 28, 2010, Wednesday

Lukoil, Russia's second-largest oil producer, said it was not interested in snapping up anything from the $10 billion asset sale with which BP hopes to help pay for its oil spill in the Gulf of Mexico.